AbbVie Inc. (NYSE:ABBV) Shares Sold by Zega Financial LLC

Zega Financial LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 66.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,470 shares of the company's stock after selling 2,904 shares during the quarter. Zega Financial LLC's holdings in AbbVie were worth $290,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the 3rd quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the second quarter valued at $27,000. Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.02 during midday trading on Friday, hitting $176.19. The company had a trading volume of 4,839,640 shares, compared to its average volume of 7,454,487. The stock has a market cap of $311.35 billion, a price-to-earnings ratio of 61.17, a PEG ratio of 2.02 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company's 50 day simple moving average is $187.14 and its 200 day simple moving average is $182.17. AbbVie Inc. has a 52-week low of $145.20 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the firm posted $2.95 EPS. AbbVie's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a boost from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.72%. AbbVie's dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ABBV shares. JPMorgan Chase & Co. lowered their price objective on AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. Citigroup lowered their price target on shares of AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. William Blair upgraded shares of AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. Finally, Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $202.38.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.